Owner/operator sentiment souring on PE; rollover equity hard to monetize

Speaker relays that owner-operators (drawing parallel from PE-bought doctors) increasingly feel the PE model 'sucks' — they retain rollover equity they cannot monetize, fund debt buy-downs amid rising rates, and lose engagement with the business.

“those guys are realizing that, hey, I'm not capturing any of the upside. I have like equity, rollover equity in these deals, but I'm never able to monetize it.”

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